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Jun 30, 2022
Quanterix Q2 2022 Earnings Report
Quanterix announced operating results and a business re-alignment plan, and it revised its 2022 guidance.
Key Takeaways
Quanterix reported that second quarter revenues were impacted by a reduction in consumable revenue due to assay quality challenges and process improvement initiatives. The company is implementing a strategic business re-alignment plan, including a workforce reduction of approximately 130 employees, to improve its cost structure and focus on key platforms.
Second quarter revenues were impacted by a reduction in consumable revenue due to assay quality challenges.
The company announced a strategic business re-alignment plan, including restructuring.
The plan includes an assay redevelopment program to improve the ability to manufacture and deliver high-quality assays at scale.
The company expects to incur restructuring and related charges of approximately $7 million to $10 million in Q3 2022 and realize run-rate savings of approximately $25 million on an annualized basis.
Quanterix
Quanterix
Forward Guidance
Quanterix now expects its total 2022 revenue to be flat compared to 2021 and expects to return to double digit revenue growth by 2024.